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Best new car deals for Presidents' Day Weekend

Consumer Reports News: February 17, 2011 01:06 PM

When it comes to car-sales holidays, so-called Presidents' Day Weekend is among the best for getting a great deal on a new car. Many automakers, as well as local dealerships, are advertising discounts and low-interest rates, but not all deals merit a presidential seal of approval. Consumer Reports Auto Price Service has combed through the national deals, filtering out models that don't meet our stringent criteria to be recommended, and the team found that there are many models available for 15- to 20-percent off the sticker price.

In sifting through the incentives, looking at direct customer rebates and hidden dealer cash, we discovered that many of the more attractive offers are on leftover 2010 models. Finding 2010s in a color and trim level that you want may be a challenge, but there are still a few out there. Of course, now that we're in the 2011 calendar year and months into the 2011 model year, any 2010 car has depreciated significantly and the purchase price needs to reflect that, or you'll lose out when it comes time to trade in.

Scanning through current offers, the advertised deals on 2010 and 2011 models are often similar, meaning it is truly up to the customer to negotiate a better price on those carry-over cars. Dealerships should be willing work with you. These vehicles may appeal most to high-mileage drivers who could amortize their miles over the additional model year, preserving future trade-in value, and those buyers who intend to hold on to a car for many years.

Founding Fathers and finding dealsFor our Presidents' Day Weekend deals watch, we focused on Consumer Reports' recommended 2010 and 2011 models that offer the best discounts. Those highlighted here have Bottom Line Prices well below MSRP, when factoring all national incentives. Regional or local offers, as well as bonus incentives that are targeted at specific audiences such as military personnel or college graduates, may further sweeten the deal. The Bottom Line Price gives you a strong starting point for your negotiations, working up from the rock bottom, rather than haggling down from MSRP or even advertised offers.

The models listed below are just a few of our Best New Car Deals—notable discounts on models recommended by Consumer Reports. These vehicles scored well in our testing, have average or better predicted reliability, and performed well in government or insurance-industry safety tests, if evaluated.

Consumer Reports also has a "Build & Buy" service that lets you configure a new vehicle online and receive guaranteed, competitive price quotes from up to three dealers in your area who have agreed to meet strict guidelines of conduct. Available to Consumer Reports New Car Price Report purchasers, as well as ConsumerReports.org subscribers, the service is completely free and you are under no obligation to buy.